HUB Cyber Security Ltd. (HUBC) has announced the successful acquisition of QPoint Technologies Ltd., a move that aligns with HUB's strategic goal to establish a leading global secure data fabric ecosystem. The acquisition, which was completed for cash on April 4, 2024, brings over 100 top customers to HUB, including partnerships with notable entities such as Rafael Advanced Defense Systems and the Israel Ministry of Defense. QPoint's expertise in various sectors, including data management and cybersecurity, is expected to significantly enhance HUB's growth and capabilities. The acquisition was partially funded by an $8 million financing transaction structured as a sale of notes and warrants to an accredited investor. The notes, with a variable interest rate, are repayable by June 12, 2024, or earlier...Show More

HUB Cyber Security Ltd. (HUBC) has announced the successful acquisition of QPoint Technologies Ltd., a move that aligns with HUB's strategic goal to establish a leading global secure data fabric ecosystem. The acquisition, which was completed for cash on April 4, 2024, brings over 100 top customers to HUB, including partnerships with notable entities such as Rafael Advanced Defense Systems and the Israel Ministry of Defense. QPoint's expertise in various sectors, including data management and cybersecurity, is expected to significantly enhance HUB's growth and capabilities. The acquisition was partially funded by an $8 million financing transaction structured as a sale of notes and warrants to an accredited investor. The notes, with a variable interest rate, are repayable by June 12, 2024, or earlier under certain conditions, and are secured by a pledge on the shares of the QPoint group. The company has also committed to a dividend policy for QPoint to support the repayment of the loan. The warrants issued are exercisable into ordinary shares of HUB at specified prices and have expiration dates in March and April 2027. The transaction documents contain customary representations, warranties, and covenants, and the information provided in the report is not deemed 'filed' for regulatory purposes. HUB Cyber Security, established in 2017, specializes in cybersecurity solutions and operates in over 30 countries.